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Economic growth is essentially the increase in everyday services and goods in the economy. Many factors can contribute to it, not least of which are human capital and the existing labor force.
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...
Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development".
Growing the Pie refers to a theory that free market economics grow the size of every slice, and thus raises the standard of living for all participants. This theory proposes that growing the pie is better than redistribution of pie through a centrally controlled economy. Growing the pie is related to the concept of economic liberalism.
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Some autocracies disappear in the midst of an economic crises, while other after a long period of prosperity, some after the founding dictator dies or some as a result of defeat in foreign wars. However, observing the conditions and predicting a transition to democracy is so difficult, because the conditions only lay the ground-works for the ...
Americans’ attitudes toward the economy improved this month for the first time since January, thanks to better perceptions of the job market.
The economy principle in linguistics, also known as linguistic economy, is a functional explanation of linguistic form. It suggests that the organization of phonology , morphology , lexicon and syntax is fundamentally based on a compromise between simplicity and clarity, two desirable but to some extent incompatible qualities.
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